Legal Question in Real Estate Law in Kentucky
Contract amount
I am selling my home by owner. The agreed upon price is $79,000. The buyer wants me to write the contract for $84,000 and give him the difference to him after the closing. Is this legal?
Asked on 7/15/04, 11:42 am
1 Answer from Attorneys
Philip Owens
Philip M. Owens, Attorney at Law
Re: Contract amount
I am assuming that he would be borrowing the purchase amount and giving a mortgage on the property. If so, this would be fraud to the lender and it would not be legal for you to do this.
Answered on 7/15/04, 4:22 pm
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